Res 1998-077 - Laserfiche WebLink

Home Browse Search

J) R. A- fT EDA PROPOSAL PUBLIC WORKS AND DEVELOPMENT FACILITIES PROGRAM Project Description: The Corridor Business Innovation Center was incorporated May 10, 1994 in Texas as a 501(c)(3) nonprofit tax-exempt organizationo Its mission is to break the poverty cycle in the Austin/San Antonio Corridor by providing comprehensive support to low to moderate income entrepreneurs via flexible Business Incubator Services designed to create new businesses, accelerate their growth, multiply and create new jobs, diversify the job base, and foster self- sufficiency in these new companies. Phase I renovation was completed in July 1996, and incubator operations startedo Within one year, all 15 available Incubator offices filled and 45 new jobs were created. The last four of these offices were filled as a result of the growth of current Incubator clients and the expansion of their businesses, requiring new employees 0 Phase I is considered a sound success. Currently, we are seeking assistance to purchase the incubator facility and to complete Phase II, the renovation and construction of 71 additional office spaces to meet the needs of the CUITent and projected client waiting list. Plans, topographical maps and 'budget are appended. This purchase and expansion will enable the CBI to be financially self sufficient, so that it can continue and expand current program provision in technical assistance, general management advising, business planning and implementation, and office service provision. Total project cost is $1,455,000. This request is for 60% of the cost, namely $873,000. The remaining 40% ($582,000) is made up from local matches. Proponent's Capability: The City of San Marcos is experienced in handling the administration of various state and federal grants. In addition, in conjunction with the Board of Directors and Staff of the Corridor Business Innovation Center, the City and the San Marcos Industrial Foundation successfully implemented Phase I of the incubator renovation project with state and local funds and initiated the start-up of operations. Incubator staff and members of the Board are continuing the implementation and marketing of this economic development and entrepreneurial skills building and training program. Dr. Johan Gervais, Executive Director, holds a Doctorate in Business Administration and over 21 years of experience covering financial management, marketing, engineering, entrepreneurship, and business 1